10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VISA INC. | |||
Ticker: V Fiscal Year: 2009 | |||
Statement Of Cash Flows Indirect | |||
Period Ending Sept 30, 2009 10-K (Filed: Nov 20, 2009) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2009 | Sept 30, 2008 | Sept 30, 2007 | |
| Operating Activities | |||
| Net income (loss) | $ 2,353 | 804 | (1,076) [1] |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Gain on sale of other investments (Note 6) | (473) | 0 | 0 |
| Depreciation and amortization of property, equipment and technology | 226 | 237 | 126 |
| Amortization of investments, debt issuance cost and accretion of member deposits | 0 | 0 | 11 |
| Share-based compensation | 115 | 74 | 0 |
| Tax benefit for share-based compensation | (7) | 0 | 0 |
| Restricted stock instruments settled in cash for taxes | (22) | 0 | 0 |
| Fair value adjustment for liability under the Framework Agreement | 0 | (35) | 0 |
| Interest earned on litigation escrow, net of tax | (15) | (13) | 0 |
| Net recognized loss on investment securities, including other-than-temporary impairment | 5 | 34 | (4) |
| Asset impairment | 11 | 34 | 0 |
| Loss on disposal of property, equipment and technology | 2 | 0 | 2 |
| Minority interest | (1) | 0 | 5 |
| Amortization of volume and support incentives | 1,234 | 1,161 | 489 |
| Accrued litigation and accretion | 95 | 1,601 | 2,913 |
| Equity in earnings of unconsolidated affiliates | 0 | (1) | (40) |
| Deferred income taxes | 297 | (27) | (874) |
| Change in operating assets and liabilities: | |||
| Trading securities | 34 | 0 | 0 |
| Accounts receivable | (102) | (24) | (29) |
| Settlement receivable | 526 | (543) | 32 |
| Volume and support incentives | (1,136) | (1,378) | (507) |
| Other assets | (109) | (158) | (172) |
| Accounts payable | (3) | (10) | (20) |
| Settlement payable | (461) | 451 | (39) |
| Accrued compensation and benefits | (23) | (115) | 65 |
| Accrued and other liabilities | 213 | (33) | (3) |
| Accrued litigation | (2,201) | (1,525) | (231) |
| Member deposits | 0 | (3) | (143) |
| Net cash provided by operating activities | 558 | 531 | 505 |
| Investing Activities | |||
| Investment securities, available-for-sale: | |||
| Purchases | (7) | (1,509) | (3,070) |
| Proceeds from sales and maturities | 297 | 2,458 | 2,769 |
| Distribution from money market investment (Note 6) | 884 | 0 | 0 |
| Reclassification of money market investment | 0 | (983) | 0 |
| Proceeds from sale of other investments | 1,008 | 0 | 0 |
| Cash acquired through reorganization | 0 | 1,002 | 0 |
| Purchases of/contributions to other investments | (48) | (25) | (3) |
| Dividends/distributions from other investments | 2 | 22 | 1 |
| Purchases of property, equipment and technology | (306) | (415) | (160) |
| Proceeds from sale of property, equipment and technology | 0 | 4 | 0 |
| Net cash provided by (used in) investing activities | 1,830 | 554 | (463) |
| Financing Activities | |||
| Proceeds from short-term borrowing | 0 | 2 | 0 |
| Payments on short-term borrowing | 0 | (2) | 0 |
| Proceeds from sale of common stock, net of issuance costs of $550 | 0 | 19,100 | 0 |
| Tax benefit for share-based compensation | 7 | 0 | 0 |
| Cash proceeds from exercise of stock options | 32 | 0 | 0 |
| Funding of litigation escrow account-Retrospective Responsibility Plan | (1,800) | (3,000) | 0 |
| Payment from litigation escrow account-Retrospective Responsibility Plan | 2,028 | 1,085 | 0 |
| Funding of tax escrow account for income tax withheld on stock proceeds | 0 | (116) | 0 |
| Payments from tax escrow account | 0 | 116 | 0 |
| Payment for redemption of stock | (2,646) | (13,446) | 0 |
| Dividends paid | (318) | (93) | 0 |
| Principal payments on debt | (50) | (18) | (33) |
| Principal payments on capital lease obligations | (4) | (4) | (4) |
| Net cash (used in) provided by financing activities | (2,751) | 3,624 | (37) |
| Effect of exchange rate translation on cash and cash equivalents | 1 | (5) | 0 |
| (Decrease) Increase in cash and cash equivalents | (362) | 4,704 | 5 |
| Cash and cash equivalents at beginning of year | 4,979 | 275 | |
| Cash and cash equivalents at end of year | 4,617 | 4,979 | 275 |
| Supplemental Disclosure of Cash Flow Information | |||
| Income taxes paid, net of refunds | 1,172 | 678 | 413 |
| Amounts included in accounts payable and accrued liabilities related to purchases of property, equipment and technology | 18 | 32 | 6 |
| Interest payments on debt | 7 | 8 | 4 |
| Common stock issued in acquisition | 0 | 17,935 | 0 |
| Assets acquired in joint venture with note payable and equity interest issued | 22 | 0 | 0 |
| [1] Historical balances for periods prior to October 1, 2007 represent balances for Visa U.S.A., the accounting acquirer in the business combination. | |||
| External Links | |
| VISA INC. (V) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |